Cincinnati Financial Corporation (NASDAQ:CINF) Stock Now Rated “Moderate Buy” by Sell-Side Brokerages

Cincinnati Financial Corporation (NASDAQ:CINF) has received a consensus rating of “Moderate Buy” from the five ratings firms that are presently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $195.40.

CINF has been the subject of a number of recent analyst reports. Bank of America lowered Cincinnati Financial from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $197.00 to $193.00 in a research report on Thursday, July 30th. Piper Sandler increased their price objective on shares of Cincinnati Financial from $175.00 to $197.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. Atlantic Securities set a $197.00 target price on shares of Cincinnati Financial in a report on Wednesday, July 15th. Roth Capital raised their target price on Cincinnati Financial from $190.00 to $200.00 and gave the stock a “buy” rating in a research report on Tuesday, July 28th. Finally, Keefe, Bruyette & Woods cut their price target on Cincinnati Financial from $201.00 to $190.00 and set a “market perform” rating for the company in a research note on Wednesday, August 5th.

Cincinnati Financial Stock Performance

Shares of CINF stock opened at $163.39 on Tuesday. The company has a market capitalization of $25.08 billion, a price-to-earnings ratio of 7.71, a price-to-earnings-growth ratio of 2.79 and a beta of 0.52. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.31 and a current ratio of 0.31. Cincinnati Financial has a one year low of $150.00 and a one year high of $194.81. The company’s 50-day moving average is $169.31 and its 200 day moving average is $169.24.

Cincinnati Financial (NASDAQ:CINF) last issued its earnings results on Monday, July 27th. The insurance provider reported $1.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.82 by ($0.39). The firm had revenue of $4.27 billion during the quarter, compared to analysts’ expectations of $2.71 billion. Cincinnati Financial had a return on equity of 9.63% and a net margin of 23.84%. During the same period last year, the firm posted $1.97 earnings per share. Sell-side analysts expect that Cincinnati Financial will post 8.35 EPS for the current fiscal year.

Cincinnati Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 23rd will be issued a $0.94 dividend. The ex-dividend date of this dividend is Wednesday, September 23rd. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.3%. Cincinnati Financial’s dividend payout ratio (DPR) is presently 17.74%.

Insider Transactions at Cincinnati Financial

In other Cincinnati Financial news, Director Dirk Debbink bought 1,000 shares of Cincinnati Financial stock in a transaction on Tuesday, August 25th. The stock was acquired at an average cost of $171.64 per share, with a total value of $171,640.00. Following the completion of the acquisition, the director owned 62,059 shares in the company, valued at approximately $10,651,806.76. This represents a 1.64% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.94% of the company’s stock.

Institutional Investors Weigh In On Cincinnati Financial

A number of hedge funds have recently modified their holdings of CINF. State Street Corp raised its holdings in Cincinnati Financial by 225.5% in the 2nd quarter. State Street Corp now owns 26,974,052 shares of the insurance provider’s stock worth $4,993,976,000 after purchasing an additional 18,686,673 shares during the period. Envestnet Asset Management Inc. increased its position in Cincinnati Financial by 1,474.8% in the second quarter. Envestnet Asset Management Inc. now owns 2,242,991 shares of the insurance provider’s stock worth $415,267,000 after buying an additional 2,100,563 shares in the last quarter. Bank of America Corp DE purchased a new stake in Cincinnati Financial in the second quarter worth about $347,891,000. First Trust Advisors LP raised its stake in shares of Cincinnati Financial by 59.4% in the first quarter. First Trust Advisors LP now owns 2,104,457 shares of the insurance provider’s stock worth $331,136,000 after buying an additional 784,584 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of Cincinnati Financial by 3.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,514,733 shares of the insurance provider’s stock worth $238,338,000 after buying an additional 44,608 shares during the period. Institutional investors own 65.24% of the company’s stock.

About Cincinnati Financial

Cincinnati Financial Corporation is an insurance holding company headquartered in Fairfield, Ohio. Through its subsidiaries, the company markets property and casualty insurance products primarily through a network of independent insurance agents.

Its offerings include commercial and personal property and casualty coverage, such as businessowners’ policies, commercial auto, workers’ compensation, homeowners and automobile insurance. The company also provides life insurance and related financial products through Cincinnati Life Insurance Company.